Bitcoin trader says expect more chop, downside, then sideways price action for BTC this summer

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Crypto Jebb and independent market analyst Scott Melker agree that the crypto market’s toughest days still lay ahead.

Traders are primarily focused on Bitcoin's spot price and lamenting the fact that it is not performing as the inflation hedge that many promised it would be, but Melker pointed out that its performance largely depends on the country and economic state of where an individual lives.

Novice investors are clearly nervous and a few have predicted the demise of the burgeoning asset class, but for those that have been around for multiple cycles, this new bear market is just another forest clearing fire that will eventually lead to a healthier ecosystem.

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Author / Journalist: Cointelegraph By Jordan Finneseth

Category: Crypto

Topics: Bitcoin Price Markets Bitcoin Regulation Cryptocurrencies Inflation Hyperinflation BTC Markets

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2022-07-01, 21:13:53

News Timezone: GMT -5:00

News Source URL: cointelegraph.com

Language: English

Reading Time: 5 minutes read

Article Length: 745 words

Coverage Area: United States

Availability: Desktop Web, Mobile Web

News ID: 25934

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About Coin Telegraph

Main Topics: Crypto

Official Website: cointelegraph.com

Update Frequency: 25 posts per day

Year Established: 2013

Headquarters: United States

News Last Updated: 9h ago

Coverage Areas: United States

Ownership: Independent Company

Publication Timezone: GMT -5:00

News Language: English

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Publisher ID: #11

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